SP500 Hits both Magnelibra Levels 3064 & 3113

Nasdaq Continues to Outperform

In our early AM subscriber note we highlighted the importance of both 3064 on the low end as it was our prior resistance and is now support and we also noted the importance of the .618 Fib on the Daily charts as our initial upside target at 3113. The high thus far is 3113.50:

Overall we have a mixed bag in the equity picture with Nasdaq a shocker leading the way, although we are noting a bit of exhaustion here on the daily and the chart set up seems to be lining up for a nice algo sniff of over extension and perhaps time for the roll tack maneuver:

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